Sportique Boutique reported the following financial data for 2012 and 2011.
| SPORTIQUE BOUTIQUE Don't use plagiarized sources. Get Your Custom Essay on sportique boutique reported the following financial data for 2012 and 2011 534694 For $10/Page 0nly | ||
| 2012 | 2011 | |
| Current assets | ||
| Cash and short-term deposits | $2,574 | $1,021 |
| Accounts receivable | 2,147 | 1,575 |
| Inventories | 1,201 | 1,010 |
| Other current assets | 322 | 192 |
| Total current assets | $6,244 | $3,798 |
| Current liabilities | $4,503 | $2,619 |
Instructions
(a) Calculate the current ratio for Sportique Boutique for 2012 and 2011.
(b) Suppose that at the end of 2012, Sportique Boutique used $1.5 million cash to pay off $1.5 million of accounts payable. How would its current ratio change?
(c) At September 30, Sportique Boutique has an undrawn operating line of credit of $12.5 million. Would this affect any assessment that you might make of Sportique Boutique”s short-term liquidity? Explain.
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